Aegis Vopak Terminal Limited, a prominent player in the Indian LPG and chemical logistics space, is preparing to launch its much-anticipated Initial Public Offering (IPO) worth ₹2,800 crores. Scheduled to open for bidding between 26th May 2025 and 28th May 2025, this IPO offers investors a fresh issue of 11.91 crore equity shares priced between ₹223 to ₹235 per share.
This article provides an exhaustive review of the Aegis Vopak Terminal IPO—from financials to subscription details—to help you make an informed investment decision.
🗓️ IPO Details at a Glance
| Details | Information |
|---|---|
| IPO Open Date | 26th May 2025 |
| IPO Close Date | 28th May 2025 |
| IPO Allotment Date | 29th May 2025 |
| Refund Initiation | 30th May 2025 |
| Listing Date | 2nd June 2025 (Tentative) |
| Issue Size | ₹2,800 Crores |
| Shares Offered | 11,91,48,936 shares |
| Face Value | ₹10 per share |
| Price Band | ₹223 – ₹235 per share |
| Lot Size | 63 Shares |
| IPO Type | Bookbuilding IPO |
| Listing Platform | NSE & BSE |
| Registrar | Link Intime India Pvt. Ltd. |
📊 Grey Market Premium (GMP) Update
As of 23rd May 2025, the GMP stands at ₹0, implying flat listing expectations around the upper price band of ₹235 per share. Investors should monitor GMP regularly for sentiment shifts.
| Date | IPO Price | GMP | Estimated Listing Price | Gains |
|---|---|---|---|---|
| 23-May-2025 | ₹235 | ₹0 | ₹235 | 0.00% |
| 22-May-2025 | ₹235 | ₹0 | ₹235 | 0.00% |
| 21-May-2025 | ₹235 | ₹0 | ₹235 | 0.00% |
🧾 Share Reservation Details
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIBs) | >75% |
| Non-Institutional Investors (NIIs) | <15% |
| Retail Investors | <10% |
🧮 Financial Highlights
Aegis Vopak Terminal Limited has demonstrated impressive financial growth over the past fiscal year:
| Metric | FY24 | FY23 |
|---|---|---|
| Revenue | ₹570.12 Cr | ₹355.99 Cr |
| PAT | ₹86.54 Cr | -₹0.08 Cr |
| Revenue Growth YoY | 60.15% | — |
| PAT Growth YoY | 108275.00% | — |
Balance Sheet Snapshot (as of Mar 2024)
-
Assets: ₹4,523.40 crore
-
Debt: ₹2,586.42 crore
-
Net Worth: ₹1,151.94 crore
📉 Technical & Valuation Metrics
| Key Ratios | Value |
|---|---|
| Price-to-Earnings (P/E) | 268.51 (pre-IPO) |
| Earnings Per Share (EPS) | ₹0.88 (pre-IPO) |
| Return on Net Worth (RoNW) | 7.51% |
| Return on Equity (RoE) | 8.68% |
| Return on Capital Employed (ROCE) | 8.39% |
| PAT Margin | 15.18% |
| Market Cap (Post-IPO) | ₹26,737.80 crore |
🆚 Peer Comparison
| Company | Revenue (Cr) | P/E | EPS | RoNW | NAV (₹) |
|---|---|---|---|---|---|
| Aegis Vopak | ₹570.12 | 268.51 | 0.88 | 7.51% | ₹13.27 |
| Adani Ports | ₹28,210.00 | 37.48 | 37.55 | 15.32% | ₹245.10 |
| JSW Infrastructure | ₹4,032.00 | 49.42 | 5.88 | 14.40% | ₹41.77 |
Note: Post-IPO PE Ratio is expected to adjust to 259.32 and EPS to ₹0.91.
💼 IPO Objectives
Funds raised through this IPO will be used for:
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Capital expenditure on acquiring cryogenic LPG terminal in Mangalore.
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Repayment of existing borrowings.
-
General corporate purposes.
🔍 Promoter Holdings
| Promoters | Pre-Issue | Post-Issue |
|---|---|---|
| Aegis Logistics, Vopak India BV, Trans Asia, Koninklijke Vopan N.V. | 97.41% | 85.93% |
🧠 Should You Invest?
✅ Pros:
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Strong revenue and profit growth
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Industry leadership in LPG terminal services
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Diversified service portfolio across gas and liquids
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Strategic asset base and established clientele
❌ Cons:
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High valuation (PE ratio of 259+)
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Low EPS compared to peers
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Competitive pressure from giants like Adani Ports
🧾 How to Apply for the IPO
1. Research & Review
Check live GMP, subscription trends, and financials.
2. Open/Use Demat Account
Use platforms like Zerodha, Groww, Univest, or your preferred broker.
3. Make a Bid
Apply for at least one lot (63 shares @ ₹14,805). Max for retail = 13 lots (₹1,92,465).
4. Approve UPI Mandate
Confirm payment via UPI apps or net banking.
🔍 How to Check Allotment Status
A. Via NSE
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Go to nseindia.com
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Navigate to “IPO Allotment” section.
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Enter PAN or Application ID.
B. Via Registrar (Link Intime)
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Visit: linkintime.co.in
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Select Aegis Vopak Terminal IPO from dropdown.
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Enter PAN/Application No.
📦 Subscription Status (To Be Updated)
| Category | Shares Offered | Subscribed | Times Subscribed |
|---|---|---|---|
| Retail | TBD | TBD | TBD |
| QIB | TBD | TBD | TBD |
| NII | TBD | TBD | TBD |
| Total | 11.91 Cr | TBD | TBD |
🏢 About Aegis Vopak Terminal Limited
Founded in 2013, Aegis Vopak Terminal operates integrated storage terminals for LPG, chemicals, and petro-products. The company is active in both Gas Terminal Division and Liquid Terminal Division. With growing energy demand in India, its infrastructure offers essential logistical support to downstream sectors.
📋 Final Verdict
The Aegis Vopak Terminal IPO offers investors a unique opportunity to invest in a key logistics player focused on petroleum and chemical storage solutions. Its massive revenue jump, turnaround in profitability, and expansion goals make it an appealing long-term bet—albeit with a premium valuation.
Ideal For:
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Long-term investors bullish on India’s energy logistics growth
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Those comfortable with moderate listing gains but strong operational outlook
📌 To Apply or Track Allotment Status, Visit:
👉 https://www.aegisindia.com
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